Vice President, Credit

About the role

The Vice President of Credit at NATIONAL EQUITY FUND, INC. is responsible for credit and underwriting reviews for assigned Low-Income Housing Tax Credit (LIHTC) project investments, supporting NEF's Investment Review Committee process and investor inquiries. This role plays a key part in approving NEF bids for 200+ LIHTC projects annually.

Responsibilities

• Guide and advise project management staff to assist in structuring LIHTC project investments and NEF lending and other products as part of NEF’s underwriting process, ensuring alignment with NEF’s and investors’ credit policies.
• Oversee the production of written investment proposals/credit analyses for project investments for NEF’s Investment Committee, addressing potential risks and assisting with responses to questions from the Committee.
• Oversee responses to investor inquiries regarding project investments, lending products, sponsors, and guarantors.
• Participate in post-closing analyses and credit review of changes to project investments.
• Initial credit review of proposed LIHTC projects as part of a dynamic, interactive bid review process, analyzing project-level underwriting criteria, developer capacity, guarantor analysis, investor-specific requirements, and deal-specific characteristics to determine critical questions to be raised and addressed prior to bid approval.
• Utilize NEF’s database system during bid review process to request additional information and coordinate internal responses and signoffs. Coordinate outside of the database system when necessary with Investor Relations, Originations, and Credit to facilitate review of a project for bid and ensure projects can be ready to launch in a timely manner.
• Work concurrently with Modeling Managers to troubleshoot technical issues for projects going through bid review.
• Evaluate previous NEF history with the developer to determine reasonableness of deal terms proposed by originator for the bid.
• Provide detailed launch memo for each bid with approved terms and language.
• Optimize the bid review process to increase efficiency.
• Makes credit decisions within bid review and LOI negotiations, as authorized.
• Provide ongoing training to staff on credit review, analysis, and standards to ensure consistency, accuracy, and adherence to best practices.
• Foster a culture of collaboration, innovation, and accountability within the credit team.
• Provide mentorship to strengthen team expertise, foster professional growth, and advance the organization’s credit management objectives.
• Future management responsibilities of Credit staff as a growth opportunity.

Qualifications

• Education: Bachelor’s degree in Business, Accounting or a related field; Masters designation preferred.
• Experience: 5-7 years in credit analysis, underwriting, and/or structuring of real estate transactions. Specific knowledge of Section 42 projects is required.

Skills

• Exceptional communication skills.
• Deep understanding of LIHTC investments.
• Strong analytical, transactional, writing, and problem-solving skills, with a focus on delivering solution-driven results.
• Ability to manage multiple tasks, prioritize effectively, and thrive in a fast-paced, collaborative team environment to meet demanding schedules.
• Comprehensive knowledge of the accounting practices and organizational structures of non-profit and for-profit real estate developers.
• Prowess in training and collaborating effectively with staff across all levels.
• Skilled in Excel with the ability to quickly learn and effectively use proprietary software.

Benefits

We offer a competitive salary, along with a comprehensive benefits package. NEF IS AN EQUAL OPPORTUNITY EMPLOYER.